Short Interest in IBERIABANK Corp (IBKC) Decreases By 23.5%

IBERIABANK Corp (NASDAQ:IBKC) was the recipient of a large decline in short interest in January. As of January 12th, there was short interest totalling 1,095,983 shares, a decline of 23.5% from the December 29th total of 1,431,834 shares. Approximately 2.1% of the shares of the company are sold short. Based on an average trading volume of 456,957 shares, the short-interest ratio is currently 2.4 days.

IBERIABANK (IBKC) opened at $87.00 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $4,419.96, a price-to-earnings ratio of 32.83, a P/E/G ratio of 1.68 and a beta of 1.37. IBERIABANK has a 1-year low of $68.55 and a 1-year high of $87.39.

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IBERIABANK (NASDAQ:IBKC) last issued its earnings results on Thursday, January 25th. The bank reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.07. The business had revenue of $290.16 million for the quarter, compared to analysts’ expectations of $285.17 million. IBERIABANK had a return on equity of 6.92% and a net margin of 12.66%. The company’s quarterly revenue was up 35.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 EPS. analysts anticipate that IBERIABANK will post 6.1 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, December 29th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Thursday, December 28th. IBERIABANK’s payout ratio is 55.85%.

In other IBERIABANK news, insider John R. Davis sold 3,263 shares of IBERIABANK stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $74.24, for a total transaction of $242,245.12. Following the sale, the insider now owns 57,886 shares of the company’s stock, valued at approximately $4,297,456.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Fenstermaker bought 2,500 shares of the business’s stock in a transaction on Friday, November 17th. The shares were acquired at an average cost of $71.81 per share, for a total transaction of $179,525.00. Following the purchase, the director now directly owns 43,242 shares in the company, valued at $3,105,208.02. The disclosure for this purchase can be found here. 3.17% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. grew its holdings in shares of IBERIABANK by 5.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,441 shares of the bank’s stock worth $362,000 after acquiring an additional 213 shares during the last quarter. BB&T Corp acquired a new position in shares of IBERIABANK in the 3rd quarter worth $277,000. Monarch Partners Asset Management LLC acquired a new position in shares of IBERIABANK in the 3rd quarter worth $14,888,000. American International Group Inc. grew its holdings in shares of IBERIABANK by 8.1% in the 3rd quarter. American International Group Inc. now owns 33,923 shares of the bank’s stock worth $2,787,000 after acquiring an additional 2,537 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of IBERIABANK by 10.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 179,709 shares of the bank’s stock worth $14,647,000 after acquiring an additional 17,045 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

A number of research firms have recently commented on IBKC. SunTrust Banks raised IBERIABANK from a “hold” rating to a “buy” rating in a research note on Tuesday, November 28th. ValuEngine downgraded IBERIABANK from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Jefferies Group raised IBERIABANK from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $89.00 to $94.00 in a research note on Monday, October 9th. Piper Jaffray Companies reissued an “overweight” rating and issued a $89.00 price objective on shares of IBERIABANK in a research note on Thursday, October 5th. Finally, Zacks Investment Research raised IBERIABANK from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $89.27.

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About IBERIABANK

IBERIABANK Corporation is a financial holding company. The Company is a holding company for IBERIABANK, a Louisiana state chartered banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency (Lenders Title); IBERIA Capital Partners LLC (ICP), a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc (IAM), which provides wealth management and trust advisory services to high net worth individuals, pension funds, corporations and trusts; 840 Denning, LLC, which invests in a commercial rental property, and IBERIA CDE, LLC (CDE), which invests in purchased tax credits.